Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 - Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 4 - Indirect Cost Rate
The School District has not elected to use the 10% de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity
of the Aberdeen School District 6-1 (the School District) under programs of the federal government for the year
ended June 30, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of
the School District, it is not intended to and does not present the financial position, changes in net position or
fund balance, or cash flows of the School District.
Title: Note 3 - Pass-Through Entity
Accounting Policies: Note 2 - Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 4 - Indirect Cost Rate
The School District has not elected to use the 10% de minimus cost rate.
The pass-through entities have not provided identifying numbers; therefore, they are not included in this
schedule.
Title: Note 5 - Food Donation
Accounting Policies: Note 2 - Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 4 - Indirect Cost Rate
The School District has not elected to use the 10% de minimus cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and
disbursed. At June 30, 2023, the School District had food commodities totaling $0 in inventory.